Colliers International Georgia- Office Market Becomes Tenant Friendly

July 23, 2018604 Views

According to the 2017 Office Market Research published by Real Estate Consulting Company Colliers International Georgia, the increase in the providing of A-class offices on the market has significantly reduced the lease.

Significant influence on the change in statistics was the introduction of 12,500 square meters King David Business Center. Real estate consultant – Sandro Shamandi speaks about this issue at Marketer.

What are the major challenges to King David Business Center at this moment?

King David operates on the market since July 2017. The business center load is 70% for the moment and most of them are international companies. Today, King David is already working space to about 700 people. The business center is perfectly functional, but Colliers International Georgia has launched a second campaign of King David to ensure its 100% load.

Our observation found that due to past experiences, consumers’ perceptions about the price of offices do not coincide with reality. Stereotype became a view that “office rent in A class business center is expensive,” although the real prices and the ability to plan spaces shows the opposite.

Through the video we wanted to take advantage of the fact that the change in the market price of companies B and lower-class office spaces alternated the transition to the A class business center at the same price.